Ingenious Packaging has been bought out of receivership by Resource Label out of Nashville. With debts of over $74 million and assets of $34 million ( $11 million was goodwill). The largest secured creditor was the Bank of Montreal. There was $44 million of unsecured creditors. Ingenious Packaging had sales of $27 million and 130 employees.

Resource Label now backed by First Atlantic and TPG Growth has bought 11 companies since 2011

. No one has been laid off with the transition.

Ingenious Packaging was formally TAPP Labels. TAPP bought Metro Label of Toronto in 2015 in an acquisition binge of 4 other label companies in 2 years. Metro Label had plants in Toronto and Vancouver. According to Graphic Monthly's Gold List Metro Label had sales of $32 million in 2014. At one point TAPP Label had 300 employees in 7 plants across North America.